EUR/MXN may fall 1798 - 2697 pips

Our pivot point stands at 19.8902.

Our preference

The downside prevails as long as 19.8902 is resistance.

Alternative scenario

Above 19.8902, look for 20.0415 and 20.1316.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 19.7804 and 19.7989). Finally, the EUR/MXN has penetrated its lower Bollinger band (19.7419).

Supports and resistances

20.1316 **

20.0415 *

19.8902 **

19.8307

19.7366 last

19.5568

19.4669 **

19.3769 *

19.2870 **

Number of asterisks represents the strength of support and resistance levels.